Nobody is comparing prices in Calgary to Vancouver as if they intend to choose one or the other as a place to live, and home values will dictate the outcome. I’m sure those in Vancouver are pretty comfortable with their status as a tier 1 global city. I don’t necessarily agree but it is a great place to live, as is anyplace in BC. However, the prices for land and building are simply outlandish based on any metric a person can come up with. Is it really possible that a semi detached can be worth over $2.5 million? I’d say no. You’d have to be crazy to be a house shopper in Vancouver. Do crazy people have those vast sums of money? There must be a linkage between mental illness and bank balance. Even in today’s cheap loan easy money environment, that’s a weighty sum.. With home prices that high how can someone also save money and generate business activity to increase their income or plan for retirement? Is there even employment in the Vancouver region that pays enough for someone to qualify for this type of purchase?This madness makes Calgary seem really affordable in comparison if you can get the same house for $1.5 million less.
A really shocking sum for this property.